In the past three years, global food prices have been on a roller coaster, rising rapidly especially in the first half of 2022 due to a speculative bubble and then falling from July 2022 onwards (Figure 1). The phase of…
The Sri Lankan government announced that it has reached an agreement with its foreign private creditors to restructure the $12.5 billion of its external debt that they hold. The agreement incorporates a novel instrument: a macro-linked bond for which the payout…
In the search for the next country that would transit from backward to advanced nation status, India’s name sometimes features. This is partly because the idea has been mooted by Prime Minister Narender Modi, who promises to make India a…
In his opus The Wealth of Nations published in 1776 Adam Smith drew a distinction between the progressive state, the stationary state and the declining state. The progressive state was one where capital accumulation would be occurring at a rate…
The coming to power of governments led by fascists is either a reality or a threat today over large parts of the world. In Europe at present there are several countries where fascists are leading governments; France was on the…
A renewed focus on retail lending, or the provision of personal loans, by India’s banking system (and the non-bank financial companies they support), is giving the otherwise confident Reserve Bank of India some cause for concern. That the period after…
Figures on India’s balance of payments in financial year 2023-24, recently released by the Reserve Bank of India, have added to the hype on India’s growth story. India’s current account deficit, or the surplus of current foreign exchange expenditures and…
For the French elections which Emmanuel Macron has called in the wake of the impressive showing by the Far-Right in the European parliamentary polls, four parties on the Left, the Communists, the Socialists, the Greens, and France Unbowed (of Jean-Luc…
Poverty is taken to be a homogeneous phenomenon irrespective of the mode of production that is under consideration. Even reputed economists believe in this homogeneous conception of poverty. In fact, however, poverty under capitalism is entirely different from poverty in…
